Author: Julius Alagbe

Bitcoin Nears $108K as U.S President Launches Meme Coin The bitcoin price surged to a record high on Monday after U.S. President Donald Trump launched a meme coin that boosted crypto community sentiment. Trump has promised to be crypto-friendly and is expected to issue executive orders aimed at reducing crypto regulatory roadblocks and promoting widespread adoption of digital assets. Data from Crypto Exchange revealed that the world’s largest digital asset surged past $107,000, up by about 16% in 7 days in the market as the rally persisted. The second largest crypto asset, Ethereum, price increased near $3,400 at the same…

Trump’s Meme Coin Frenzy – Experts Warn of Risks Donald Trump’s launch of the $TRUMP meme coin is sending shockwaves through the cryptocurrency market, with the coin’s valuation skyrocketing by over 300% in less than 24 hours. As of Sunday morning, $TRUMP hit a market cap of $5.81 billion, marking the former president’s bold foray into digital assets and merchandise sales ahead of his upcoming inauguration. Announced on Truth Social late Friday, $TRUMP was described as a celebration of Trump’s “WINNING” the presidential election. The coin, built on Solana’s blockchain platform, debuted with a limited supply of 200 million coins.…

Dangote Sugar Gains 17% Amidst Negative Earnings Expectation Dangote Sugar Refinery Plc.’s market value rose by about 17% in the last five trading sessions on the Nigerian Exchange (NGX) due to increased buying interest on expectation that the company’s losses will moderate in the fourth quarter of 2024. The positive price movement, which was supported by investors renewed interest in the company’s future earnings outlook, has reduced its discounted value on the local bourse. Dangote Sugar Refinery Plc has reported huge losses successively amidst a tough operating environment. Its unimpressive earnings performance triggered massive sell pressures on the company’s shares…

GTCO Crossed N1.7 Trillion, Q3 Profit Raised Earnings Bar Nigeria’s multinational financial services group, Guaranty Trust Bank Holdings (GTCO) Plc, whose market value crossed N1.7 trillion, has remained steady over the last five trading sessions on the Nigerian Exchange. The most valuable Nigerian bank on the stock market saw its share price breaking series of resistance in the last quarter of 2024. The significant surge in its market value was bolstered by strong earnings beat in the first nine months of financial year 2024.  GTCO’s financial performance in the first nine months of 2024 reflects strong growth and resilience, positioning…

Zenith Bank Nears N1.47Trn on Healthy Earnings Expectations Zenith Bank Plc market value expanded slightly near N1.47 trillion in the equities segment of the Nigerian Exchange amidst healthy earnings growth expectations. The bank’s share price increased slightly to N46.8 in the equities market in the just concluded week from the opening price of N46. At the current market price, Zenith is trading at a less than 1% discount to its 52-week high in the stock market amidst healthy earnings expectations for 2024. With an upward adjustment to its target price, equities analysts said the financial services company intends to capitalise…

Access Holdings Plc.’s market value rose to N1.287 trillion in the equities market after the financial services group listed additional shares from a successful completion of rights issue offer to shareholders.

FG, States, Local Govts. Share N1.424Trn Revenue for December A total sum of N 1.424 trillion, being Dec. 2024 Federation Account Revenue has been shared to the Federal Government, states, and the Local Government Councils (LGCs). This is according to a statement by Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant General of the Federation (OAGF). Mokwa said that the revenue was shared at the January Federation Account Allocation Committee (FAAC) meeting on Friday in Abuja. Meanwhile, a communiqué from the FAAC meeting said that the N1.424 trillion total revenue comprised statutory revenue of N386.124 billion, and…

Equities investors gain N541 billion in portfolio value on the back of bargain hunting on the Nigerian Exchange (NGX) trading platform on Friday. The positive drive lifted key performance indicators higher by 17 basis points.

The Executive Board of the International Monetary Fund (IMF) has approved a total of $2.767 billion as loans to boost the Democratic Republic of Congo’s economy amidst global uncertainties.

$9.6bn P&ID Scam: I’ve No Witness to Call, Briton Tells Court The British national, Mr James Nolan, who jumped bail in the ongoing trial linked to the alleged 9.6 billion-dollar Process and Industrial Development (P&ID) Ltd scandal on Thursday, said he does not intend to call any witness. Nolan told Justice Obiora Egwuatu of a Federal High Court in Abuja through his lawyer, Michael Ajara. The Economic and Financial Crimes Commission (EFCC), in the 20-count charge, named Micad Project City Services Limited and Nolan as 1st and 2nd defendants in the money laundering offences. Nolan and Micad Project, a company…